Devisenmarkt Israel

 

The Israeli currency is stronger than when the rocket fire from Gaza began on Tuesday....

Prico: The market is moving within a very limited range of NIS 3.48/$ and NIS 3.53/$....

Shekel exchange rates against the US dollar and the euro have risen; trading on the Tel Aviv Stock Exchange is fairly stable....

The first major purchases since Amir Yaron became Governor last December boosted the foreign exchange reserves at the end of October 2019 to a record $121.361 billion....

The Bank of Israel made foreign currency purchases of $312 million last month - the first major purchases since Prof. Amir Yaron became Governor last December....

Prico: In the long term, the shekel has the potential to strengthen but in the medium term political dedadlock and security uncertainties restrict gains....

Leader Capital Markets: Capital movements and a current account surplus support an appreciation of the shekel....

The Bank of Israel is also expected to cut the interest rate when it meets in November....

Despite disappointing growth, political uncertainty and an expected rate cut, demand for shekel is still outstripping demand for foreign currency....

A revision downwards of second quarter growth figures and political uncertainty are weakening the Israeli currency....

Inflation in Israel over the past 12 months has fallen to just 0.3%, moving further away from the Bank of Israel's annual target range of 1%-3%....

With hopes high for a Brexit settlement in the next few days between the UK and EU, sterling gained 1.485% against the shekel to NIS 4.442/£....

Bank of Israel Governor Prof. Amir Yaron observed that the Monetary Committee was not unanimous in keeping the rate unchanged and there were good reasons for cutting the rate below 0.25% already....

This was the third consecutive month that the reserves have fallen after reaching a record $120.1 billion at the end of June 2019 the Bank of Israel reports....

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Israel's inclusion on the World Government Bond Index could translate to foreign currency purchases in shekels of government bonds worth about $2 billion....

Analysts see Israel's 0.29% weight in the index translating to foreign currency purchases in shekels of government bonds worth about $2 billion....

Leader Capital Markets: While Israel's institutional bodies continue to sell foreign currency there will be pressure on the shekel to appreciate....

The shekel is stronger this morning after the US Federal Reserve cut the key interest rate by 0.25% to the 1.75%-2% range....

The shekel is weaker even though the US Fed is expected to cut interest again today and narrow the rate gap between the dollar and the shekel....